Venture Behemoth Andreessen Horowitz Aims To Raise $ 1,000,000,000 For New Crypto Investment Fund

Venture capital giant Andreessen Horowitz plans to create a new multi-billion dollar fund targeting the growing crypto ecosystem. The London-based publication Financial Times cites four people familiar with the issue, who say the new fund aims to raise between $ 800 million and $ 1 billion to invest in cryptocurrencies and crypto startups. By the target amount, Andreessen's third crypto investment fund could be almost twice the size of the $ 515 million Crypto Fund II the VC giant launched last year for networks and businesses. cryptographic. It could also make the new fund one of the largest crypto-focused capital pools similar to investment firm Paradigm, which raised a total of $ 1 billion from investors. Andreessen creates the mutual fund after making a successful investment in Coinbase. The Silicon Valley-based company, along with Union Square, is one of the two largest foreign investors in the cryptocurrency exchange. Coinbase is valued at around $ 60 billion after logging onto the Nasdaq earlier this month. Regulatory files show that Andreessen has sold around $ 120 million of his shares in the crypto exchange since the IPO. The report comes weeks after CoinShares CSO Meltem Demirors predicted that early Coinbase investors would reinvest their profits into the crypto markets. Coinbase's IPO will reach hundreds, if not thousands, of multimillionaires and billionaires, all of whom love crypto and will likely withdraw some of their income from their crypto listings and continue to invest in the crypto ecosystem. There is a really nice recursive effect that this industry is not limited to assets. These are really companies we've been investing in for almost a decade. Don't Miss a Beat – Subscribe to receive crypto email alerts straight to your inbox Follow us on Twitter, Facebook and Telegram Daily Hodl Mix Check the latest headline news Legal Notices

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